Unemployment Tax Rate Unchanged For 2005

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DES MOINES - Iowa Workforce Development officials announced today that the unemployment tax rate table will remain unchanged for 2005. Tax rates will be the third lowest allowed by law.

Iowa law requires Iowa Workforce Development establish the tax table that will be used to determine the unemployment tax rate by eligible employers annually. Unemployment tax rates are based on wages and recent unemployment benefit payments. In calendar year 2005, the tax rate will stay in Table 6.

“It is good news that the tax table will remain the same. The fact the rate table will remain the same is a testament of the diligence and management of all the staff working in our unemployment insurance program. That is a positive sign for employers and those unemployed individuals who are receiving benefits.” explained Richard V. Running, Director of Iowa Workforce Development.

Iowa Workforce Development is the state agency charged with collecting unemployment insurance taxes from employers and operating Iowa’s unemployment insurance payment program for workers. Through a network of Workforce Development Centers, the agency also provides resources and training programs to help workers fund jobs and assists Iowa employers with a variety of workforce products.